Chris Tesarski just posted this message on Facebook:
A message from Treaty Energy Corporation (TECO’s) Chairman, Chris Tesarski:
While there has been significant discussion about TECO shareholders ‘deserving’ data and updates, we have maintained silence on such issues as we believed that shareholders should be given real data and real updates. We can now announce with a sense of satisfaction that a group of engaged and concerned shareholders have helped lay the groundwork for TECO to move forward in 2017 with an actual business and operating plan. Through a series of acquisitions into a privately held company, TECO and this company have structured an agreement by which TECO will be loaned an assignment of 20% of production for approximately one year in exchange for a preferred share certificate to be returned if TECO is not able to purchase the assignment at the end of the term. The properties held by the private company are producing assets with significant upside. They incorporate technical and operational efficiencies making them economic despite issues with commodity pricing that currently plague so many companies’ operations. The risk to TECO is zero; yet the reward could change the company and finally set it on the right course to recovery. The risk to the private company is the loss of valuable production, but these concerned shareholders are eager to see TECO back on its feet even at their own expense. The producing assets are in the Yellowstone Basin and Southern Alberta, Canada.
Please be aware that TECO’s management and Board have given inordinate amounts of personal time, energy, and financial resources to keep the company going. TECO still exists because of these efforts. We, however, refuse to dilute shareholders any further and will not issue more shares to raise capital. Rather, we can only offer an opportunity for shareholders to loan the company funds directly knowing that it can pay the loans back through cash flow. If no such funds are forthcoming, we will utilize any new cash flow to pay for reporting compliance and future investments. If you want to see change take place more quickly, please contact us to see how you can help.
And a message from TECO’s General Counsel, Andrew Kramer:
As a shareholder of TECO, you may have recently received notice about a group of shareholders who have organized and are attempting to pursue claims against the SEC and other parties. Be advised that these actions are not being taken on behalf of the company and that the company is not participating in any such legal proceedings at this time. Although the company cannot stop shareholders from pursuing these claims and agrees that illegal short-selling schemes likely harmed the company, the company is committed to pursuing its business plan, including the updating of all audits and filings and the generation of steady revenue, on which the company can rely to pay its bills and move forward.
A message from Treaty Energy Corporation (TECO’s) Chairman, Chris Tesarski:
While there has been significant discussion about TECO shareholders ‘deserving’ data and updates, we have maintained silence on such issues as we believed that shareholders should be given real data and real updates. We can now announce with a sense of satisfaction that a group of engaged and concerned shareholders have helped lay the groundwork for TECO to move forward in 2017 with an actual business and operating plan. Through a series of acquisitions into a privately held company, TECO and this company have structured an agreement by which TECO will be loaned an assignment of 20% of production for approximately one year in exchange for a preferred share certificate to be returned if TECO is not able to purchase the assignment at the end of the term. The properties held by the private company are producing assets with significant upside. They incorporate technical and operational efficiencies making them economic despite issues with commodity pricing that currently plague so many companies’ operations. The risk to TECO is zero; yet the reward could change the company and finally set it on the right course to recovery. The risk to the private company is the loss of valuable production, but these concerned shareholders are eager to see TECO back on its feet even at their own expense. The producing assets are in the Yellowstone Basin and Southern Alberta, Canada.
Please be aware that TECO’s management and Board have given inordinate amounts of personal time, energy, and financial resources to keep the company going. TECO still exists because of these efforts. We, however, refuse to dilute shareholders any further and will not issue more shares to raise capital. Rather, we can only offer an opportunity for shareholders to loan the company funds directly knowing that it can pay the loans back through cash flow. If no such funds are forthcoming, we will utilize any new cash flow to pay for reporting compliance and future investments. If you want to see change take place more quickly, please contact us to see how you can help.
And a message from TECO’s General Counsel, Andrew Kramer:
As a shareholder of TECO, you may have recently received notice about a group of shareholders who have organized and are attempting to pursue claims against the SEC and other parties. Be advised that these actions are not being taken on behalf of the company and that the company is not participating in any such legal proceedings at this time. Although the company cannot stop shareholders from pursuing these claims and agrees that illegal short-selling schemes likely harmed the company, the company is committed to pursuing its business plan, including the updating of all audits and filings and the generation of steady revenue, on which the company can rely to pay its bills and move forward.
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